F&O Strategy: Nandish Shah recommends going long on M&M Finance




By-product System on M&M Finance


Invest in M&M Finance (30-June Expiry) Future at Rs 187.2

Lot Dimension 4000


Focus on: Rs 194


Halt Loss: Rs 183


Rationales:

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We have noticed long establish up in the M&M Finance futures wherever we have noticed 4 for each cent addition in Open up Interest (Prov) with selling price climbing by .5 for each cent.

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Quick term pattern of the M&M Finance is constructive as it is trading above its critical short-expression moving averages.

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Stock price tag is on the verge of breaking out from the downward sloping trendline, adjoining the highs of 09-Nov 2021 and 29-April 2022.

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Momentum Oscillators like RSI(11) and MFI(10) are sloping upwards and put earlier mentioned 60, Indicating power in the present-day uptrend.






Disclaimer: Nandish Shah is Specialized Investigate Analyst at HDFC Securities. He would not keep any posture in the inventory. Views are individual.

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First Posted: Fri, June 10 2022. 07:46 IST
